PayPal (NASDAQ:PYPL) Trading Up 1.8% - Here's Why

Shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Get Free Report) were up 1.8% during trading on Tuesday . The company traded as high as $61.31 and last traded at $61.37. Approximately 2,514,902 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 11,425,700 shares. The stock had previously closed at $60.29.

Analyst Upgrades and Downgrades

PYPL has been the topic of several recent analyst reports. Needham & Company LLC reiterated a "hold" rating on shares of PayPal in a research note on Wednesday, February 26th. Robert W. Baird reduced their price target on shares of PayPal from $100.00 to $95.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 5th. Wells Fargo & Company reduced their price objective on PayPal from $80.00 to $74.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Compass Point assumed coverage on shares of PayPal in a research report on Wednesday. They issued a "sell" rating and a $56.00 target price for the company. Finally, Morgan Stanley lifted their target price on PayPal from $79.00 to $80.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 26th. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $85.88.

PayPal Price Performance

The company has a debt-to-equity ratio of 0.48, a current ratio of 1.26 and a quick ratio of 1.26. The stock has a market capitalization of $64.64 billion, a price-to-earnings ratio of 16.29, a PEG ratio of 1.27 and a beta of 1.60. The stock's 50 day simple moving average is $66.76 and its 200-day simple moving average is $78.61.

PayPal (NASDAQ:PYPL - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $1.19 EPS for the quarter, beating the consensus estimate of $1.11 by $0.08. The company had revenue of $8.37 billion for the quarter, compared to the consensus estimate of $8.27 billion. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The company's revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.48 earnings per share. On average, analysts expect that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

Insider Activity at PayPal

In other news, Director Gail J. Mcgovern sold 2,446 shares of the stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $72.15, for a total value of $176,478.90. Following the completion of the transaction, the director now owns 29,734 shares in the company, valued at approximately $2,145,308.10. This represents a 7.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.14% of the company's stock.

Institutional Investors Weigh In On PayPal

Several large investors have recently modified their holdings of PYPL. Mather Group LLC. boosted its stake in PayPal by 37.4% in the 1st quarter. Mather Group LLC. now owns 2,449 shares of the credit services provider's stock valued at $160,000 after buying an additional 667 shares in the last quarter. Alta Advisers Ltd boosted its stake in shares of PayPal by 59.6% in the 1st quarter. Alta Advisers Ltd now owns 5,353 shares of the credit services provider's stock valued at $349,000 after purchasing an additional 2,000 shares in the last quarter. Unified Investment Management grew its holdings in shares of PayPal by 1.4% in the 1st quarter. Unified Investment Management now owns 22,597 shares of the credit services provider's stock worth $1,474,000 after purchasing an additional 303 shares during the last quarter. Red Door Wealth Management LLC increased its position in shares of PayPal by 15.2% during the 1st quarter. Red Door Wealth Management LLC now owns 55,415 shares of the credit services provider's stock worth $3,616,000 after purchasing an additional 7,326 shares in the last quarter. Finally, Canandaigua National Trust Co of Florida lifted its holdings in PayPal by 4.4% during the 1st quarter. Canandaigua National Trust Co of Florida now owns 11,690 shares of the credit services provider's stock valued at $763,000 after purchasing an additional 490 shares during the last quarter. 68.32% of the stock is currently owned by institutional investors.

About PayPal

PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. It operates a two-sided network at scale that connects merchants and consumers that enables its customers to connect, transact, and send and receive payments through online and in person, as well as transfer and withdraw funds using various funding sources, such as bank accounts, PayPal or Venmo account balance, PayPal and Venmo branded credit products comprising its installment products, credit and debit cards, and cryptocurrencies, as well as other stored value products, including gift cards and eligible rewards.